Statement by the Press Secretary on H.R. 3630
On Wednesday, February 22, 2012, the President signed into law:
H.R. 3630, the “Middle Class Tax Relief and Job Creation Act of 2012,” which extends through December 31, 2012: (1) a reduction in employment tax rates for employees and the self-employed: (2) an initial eligibility for emergency unemployment compensation and 100 percent Federal funding for extended unemployment insurance benefits: and (3) a Medicare physician payment update delaying a rate reduction for physician services. Also extends assistance for needy families through September 30, 2012.